Unit Corporation to Acquire Two Additional Drilling Rigs

Unit Corporation has reached an agreement to buy two drilling rigs and related equipment for $5.5 million. The rigs are rated at 850 and 1,000 horsepower respectively and are ready for work. Depth capacities are from 12,000 to 15,000 feet. The rigs are to be added into Unit's Rocky Mountain fleet, bringing the total rigs in that area to 10. Closing of this transaction is expected to occur on or before May 7, 2004. With this acquisition, Unit's total rig fleet will consist of 90 drilling rigs, with its 91st rig being built and expected to be operational in 30 days. Unit currently has 85 of its 88 rig fleet operating.